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FOX News
Jan 7, 2013 3:00pm PST
increase should be prepared. >> according to the treasury department we have exceeded the debt ceiling. treasury department can keep from defaulting for roughly two months and automatic sequester cuts would kick in if that matter isn't resolved by then. >> bret: shannon, thank you. >> the administration spent more on immigration enforcement in the last fiscal year than it did on all other law enforcement agencies combined. a washington think tank that he dropped $18 billion on customs enforcement, border protection and u.s. program. combined projects of several agencies by $3.6 billion. still ahead. is the obama administration drawing up strict gun controlat. first, the guns are still firing despite a new peace offering from syria's president. ♪ ♪ make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. that's a good thing, but it doesn't cover everything.
Jan 7, 2013 2:00pm EST
ceiling or hitting the debt ceiling, that window begins february 15 a, ends march 1st. that's sooner than people expected. there are ways in which the treasury might get additional wiggle room in they delay tax refunds but if they don't take that step which would be unpopular and risk hooe, treasury would have to, no later than mar much 1, prioritizing its bills, figuring out by the day or category, which bills it was going to honor. it is unprecedented for the u.s. government to not honor all of its obligation chess is why steve bell is a veteran senate republican budget policy aid who gave this briefing at the center, said he wouldn't rule out the prospect that white house would reconsider the president's statements that he lacks under the constitution, the executive authority to out laterally lift the debt ceiling. well see whether the administration sticks to that line, if congress doesn't act, which is a big if. >> how did we get the original estimate so wrong then? >> we didn't. the center accurately called when the treasury would hit the debt ceiling in a technical sense. that's late last year, december 31. but as treasury secretary geithne
FOX Business
Jan 7, 2013 6:00pm EST
game. that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do you make of that? the republicans were in a much weaker bargaining position. what speaker boehner was doing anything that taxes went up at midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income taxes and they didn't. in this case from the president keeps more than what speaker boehner caved. the. gerri: you make a good point. i wanted to respond one more thing, which i found interesting. steve moore of "the wall street journal" said we had heard that i'm not going to negotiate with the president anymore and now we find out that t
Jan 7, 2013 1:00pm EST
morning talk shows. you were made aware of analysis that indicates we will hit that debt ceiling maybe even sooner or than the treasury will have to start taking its ex record to marry steps even sooner than we thought. so what happens if we really get to the point where we go over, and what the next steps? what does the treasury do? >> very difficult choices. the treasury would have to prioritize bill paying. they could do it by the day. do it by the type of expense they are going to repay. presumably sovereign debt would be repaid first. but given the fact this is unprecedented, never happened before, you could have the president reconsidering his assertion that he could not use executive authority. the president said he does not believe that under the constitution he can un latry raise the debt ceiling. but some disagree and urge him to do that. he said he will not negotiate with congress at all. so you have to think that is at east in the background. this briefing this morning said the treasury could exhaust the extraordinary measures tyler as early as february 15th, which is earlier than most expected. that a fight, t
Jan 6, 2013 5:00pm PST
funding and the looming debt ceiling. mr. obama's inauguration is january 21st, followed by his annual state of union address congressional leaders are gear up with the debate over the debt ceiling. as elizabeth corridan tells us republicans want any increase tied to spending cuts. >> i believe we need to raise the debt ceiling, but if we don't without a plan we all should be fired. >> reporter: now lawmakers start a new session under pressure to avert another financial crisis. this time, over raising the debt ceiling. if an agreement is not reached by late february or early march the united states risks defaulting on its financial obligations and the altru will be on how much congress will agree to cut spending. >> the bottom line is that we can't continue down the path we're on to borrow money to pay our own debt. we have have to have serious spending cuts. >> reporter: key democrats say they are not related. >> people are going to say i will not pay my bills unless you stop buying stuff, well stop buying stuff so you don't have future bills, but right now we have to pay the b
Jan 7, 2013 6:00am PST
department runs out of options to cover u.s. borrowing risking potential default. the whole debt ceiling business. the domestic and defense cuts postpone for two months by the fiscal cliff deal kick in. also known as sequester around these parts. of course, march 27th, the big the continuing resolution that funds the entire government expires. that may be where things truly heat up. mitch mcconnell drew a line in the sand saying though republicans are willing to work on tax reform as part of upcoming budget negotiations, new tax revenue is, "absolutely off the table." >> we've resolved the tax issue now. it's over, it's behind us. >> the tax issue is over. >> the tax issue is over, finished, completed. >> that may be mcconnell's view and not the view from the white house or democrats. they say new revenue is needed, mainly by scaling back tax breaks for the welty. >> these loopholes where people can park their money on some island off shore and not pay taxes, these are things that need to be closed. we can do that and use the money to reduce the deficit. >> is that done now? is the reven
Jan 7, 2013 9:00am EST
and credit of u.s. treasuries with regard to debt ceiling, are they being real? whenever i have questions like this, i always go to the man. larry kudlow will be our guest in 20 minutes. you'll want to see this one. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> a sight for sore eyes. >> good morning. happy new year. fortunately or unfortunately i get about a thousand year-end reviews. one stood out this career. one is the asset manager firm. it's up to 20 plus years now, outperformed the s&p more than two to one of 28% last career, mark ten years significant value over the s&p. and so let's talk about some of the names on the 2013 forgotten 40 list. let's start out with gold foods. why is that on the list and tell us why you like it. >> sure. thanks for having me, first. gold is on there for two reasons. one, when we look
Jan 7, 2013 12:00pm EST
the end of the year including estimates when the debt ceiling would be reached and measures the treasury department has in the past and is now taking with rartsdz to that matter. but i would refer you for the questions you asked to the treasury department. >> you keep saying the president won't negotiate -- at the risk of sounding naive how does that work. if the members of congress don't have the strotes raise the sealening, does he say i'm not going to talk about that? >> the president believes members of congress were elected to serve their constituents and as one of their essential responsibilities to ensure that they do no narm congress to this economy and to the livelihoods of average americans, flirting with default or even worse, allowing default would be a violation of those primary these are bills that congress built. if congress but they should not be paying these bills are there should be less spending and borrowing, that is different legislation. it is not the president's response ability to pass legislation to raise the debt ceiling. it is congress. he will not engage in an associatio
FOX News
Jan 7, 2013 8:00am PST
of defaulting on its financial obligations. that sets up a fight over the debt ceiling. the main point of leverage congressional republicans to as their chance to bargain over fiscal issues as we whoevered dangerously close to the fiscal cliff. remember president obama says there will be no debate whether congress votes to raise our country's debt limit. >> one thing i will not compromise over, whether congress pays the bill for a tab they racked up. if congress refuses to give the united states the ability to pay its bills. it could be catastrophic. last time congress threatened this course of action our entire economy suffered for it. >> reporter: gop leaders in the house and senate, brace yourself, mr. president. you better believe there is going to be debate. congressman jim jordan says that is what the american people expect. >> let's do it for a change instead of saying give us more revenue. we promise we'll cut spending later. give us more borrowing authority, let us run up the credit card we promise to cut of the this is the old, lucy, charlie brown, the football, the ame
Jan 7, 2013 3:00am PST
the president's agenda coming up include immigration gun control and the debt ceiling. the treasury is slated to lose borrowing power by the end of february unless congress agrees to raise the limit. spending cuts kick out on march 1st to every federal program. on the issue of gun control, the joe biden led tackle force has not reached any plans yesterday but according to "the washington post," the group is considering requiring universal background checks for all gun biers and harsh penalties for carrying guns near schools or giving them to miners. they would track the movement and sales of weapons through the national database. more bill press show coming up after the break. we are live in our chat room. join us there at see you there. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out. they can quest
Search Results 0 to 9 of about 10